| Property tax calculators are powerful UK | | | | property portfolio were to be sold? What would |
| property management software packages that | | | | the tax liability be? How would this compare to a |
| can help the commercial landlord to calculate and | | | | sale of property Y? What would the tax liability be |
| make provision for the inevitable tax liabilities. The | | | | in that scenario? This is information which is |
| main feature to look for in a product is user | | | | fundamental to key decisions in the commercial |
| friendliness. The whole point of the product is that | | | | property sector. Look too for a landlord tax |
| a landlord with little or no knowledge of taxation | | | | software product that can deal with a variety of |
| rules and regulations can use it to quickly assess | | | | ownership scenarios. Is the landlord tax package |
| their capital gains tax liabilities. There are two | | | | flexible enough to deal with sole ownership, joint |
| obvious advantages to this. Firstly, it can save the | | | | ownership and multiple ownership scenarios? The |
| busy landlord a lot of time trying to manually | | | | ideal product should also be able to deal with relief |
| calculate the tax liability in accordance with all the | | | | factors which are fundamental to tax planning and |
| rules and regulations before again double checking | | | | these include personal capital gains tax allowances |
| it direct with the Inland Revenue's help-line. | | | | and private residence relief. Remember also that |
| Secondly it can save time and money on | | | | there have been a number of changes announced |
| professional fees. | | | | recently to capital gains tax and you should |
| Good landlord tax software is an investment and | | | | ensure that the product chosen is up to date and |
| before committing to purchase, a landlord should | | | | that it includes a post sales technical support |
| research the available products thoroughly. There | | | | service. |
| are lots of ways these days to carry out such | | | | More and more professional landlords these days |
| research. Look on-line for independent reviews of | | | | are turning to specialist landlord tax software and |
| products by other professional landlords. Visit | | | | it really is easy to see why. The professional |
| trade fairs if you can and see the product in | | | | landlord cannot afford to take shortcuts where |
| action. | | | | tax liability calculation is concerned. The penalties |
| No commercial landlord wants to pay too much | | | | for getting the maths wring in these |
| tax but conversely the penalties for not paying | | | | circumstances can be devastating. It really does |
| enough property tax can be severe. There are | | | | pay to think and work smart though and dealing |
| clear advantages for the commercial landlord in | | | | with landlord tax liability using landlord tax |
| having ready access to software to explore 'what | | | | software is the smart way forward for the |
| if' scenarios. What if property X from the | | | | modern commercial landlord. |